Shining a Light on Too Big to Fail in China
(Beijing) - Since Jiangxi LDK Solar Hi-Tech Co. Ltd. settled in Xinyu, in southeastern China's Jiangxi Province, the local government has gone out of its way to give it preferential treatment, making the company a focus of the local economy.
However, the manufacturer of solar modules, along with other similar Chinese firms, has encountered difficult times of late. In the past few years, these companies have built up large inventories even as demand has fallen off and profits all but disappeared. Naturally, LDK Solar ran up large debts.
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